Report Information - Report Title: Synthetic Rubber Morning Report [2] - Research Team: Research Center's Energy and Chemicals Team [3] - Report Date: January 26, 2026 [3] - Data Sources: Mysteel, Wind [8] Key Points 1. BR (Butadiene Rubber) 1.1 Futures Market - Closing Price: The closing price of the BR main contract increased from 11,395 on December 24, 2025, to 12,930 on January 23, 2026, with a daily change of 660 and a weekly change of 1,325 [4]. - Open Interest: The open interest rose from 99,013 on December 24, 2025, to 127,376 on January 23, 2026, with a daily change of 30,694 and a weekly change of 33,192 [4]. - Trading Volume: The trading volume increased from 191,046 on December 24, 2025, to 356,678 on January 23, 2026, with a daily change of 173,921 and a weekly change of 241,881 [4]. - Warehouse Receipts: The number of warehouse receipts was 26,920 on January 23, 2026, with no daily change and a weekly increase of 890 [4]. - Virtual - Physical Ratio: The virtual - physical ratio was 23.66 on January 23, 2026, with a daily and weekly change of 6 [4]. 1.2 Basis and Spread - Butadiene - BR Basis: The butadiene - BR basis was -230 on January 23, 2026, with a daily increase of 190 and a weekly decrease of 325 [4]. - Styrene - BR Basis: The styrene - BR basis was -130 on January 23, 2026, with a daily decrease of 60 and a weekly decrease of 625 [4]. - 02 - 03 Spread: The 02 - 03 spread was -75 on January 23, 2026, with a weekly decrease of 20 [4]. - 03 - 04 Spread: The 03 - 04 spread was -30 on January 23, 2026, with a daily decrease of 10 and no weekly change [4]. - RU - BR Spread: The RU - BR spread decreased from 4,255 on December 24, 2025, to 3,382 on January 23, 2026, with a daily decrease of 195 and a weekly decrease of 755 [4]. - NR - BR Spread: The NR - BR spread decreased from 1,220 on December 24, 2025, to 165 on January 23, 2026, with a daily decrease of 300 and a weekly decrease of 882 [4]. 1.3 Spot Market - Shandong Market Price: The Shandong market price increased from 11,050 on December 24, 2025, to 12,700 on January 23, 2026, with a daily increase of 850 and a weekly increase of 1,000 [4]. - Chuanhua Market Price: The Chuanhua market price increased from 10,950 on December 24, 2025, to 12,700 on January 23, 2026, with a daily increase of 850 and a weekly increase of 1,150 [4]. - Qilu Factory Price: The Qilu factory price increased from 11,100 on December 24, 2025, to 12,000 on January 23, 2026, with no daily change and a weekly increase of 300 [4]. - CFR Northeast Asia: The CFR Northeast Asia price was 1,550 on January 23, 2026, with no daily or weekly change [4]. - CFR Southeast Asia: The CFR Southeast Asia price was 1,750 on January 23, 2026, with no daily or weekly change [4]. 1.4 Profit - Spot Processing Profit: The spot processing profit decreased from 767 on December 24, 2025, to -720 on January 23, 2026, with a daily decrease of 119 and a weekly decrease of 479 [4]. - Import Profit: The import profit increased from -571 on December 24, 2025, to -13 on January 23, 2026, with a daily increase of 833 and a weekly increase of 983 [4]. - Export Profit: The export profit decreased from 1,166 on December 24, 2025, to 517 on January 23, 2026, with a daily decrease of 723 and a weekly decrease of 854 [4]. 2. BD (Butadiene) 2.1 Spot Market - Shandong Market Price: The Shandong market price increased from 7,925 on December 24, 2025, to 11,000 on January 23, 2026, with a daily increase of 950 and a weekly increase of 1,450 [4]. - Jiangsu Market Price: The Jiangsu market price increased from 7,700 on December 24, 2025, to 10,700 on January 23, 2026, with a daily increase of 850 and a weekly increase of 1,300 [4]. - Yangzi Factory Price: The Yangzi factory price increased from 7,800 on December 24, 2025, to 10,500 on January 23, 2026, with a daily increase of 600 and a weekly increase of 950 [4]. - CFR China: The CFR China price increased from 930 on December 24, 2025, to 1,200 on January 23, 2026, with a daily increase of 20 and a weekly increase of 40 [4]. 2.2 Profit - Carbon Tetrachloride Extraction Profit: The carbon tetrachloride extraction profit was 2,944 on January 22, 2026 (data for January 23 is N/A) [4]. - Butene Oxidative Dehydrogenation Profit: The butene oxidative dehydrogenation profit increased from -1,254 on December 24, 2025, to 2,110 on January 23, 2026, with a daily increase of 850 and a weekly increase of 1,300 [4]. - Import Profit: The import profit increased from 164 on December 24, 2025, to 1,094 on January 23, 2026, with a daily increase of 679 and a weekly increase of 972 [4]. - Export Profit: The export profit decreased from -945 on December 24, 2025, to -1,788 on January 23, 2026, with a daily decrease of 729 and a weekly decrease of 481 [4]. - Styrene - Butadiene Production Profit: The styrene - butadiene production profit decreased from 1,313 on December 24, 2025, to 200 on January 23, 2026, with a daily increase of 13 and a weekly decrease of 238 [4]. - ABS Production Profit: The ABS production profit data for January 23, 2026, is N/A [4]. - SBS Production Profit: The SBS production profit decreased from -425 on December 24, 2025, to -1,460 on January 23, 2026, with a daily decrease of 465 and a weekly decrease of 815 [4].
合成橡胶早报-20260126
Yong An Qi Huo·2026-01-26 02:36